MPE Partners Closes Fund IV at $633 Million


Cleveland, OH and Boston, MA – MPE Partners (“MPE” or “Morgenthaler Private Equity”), a lower middle market private equity firm based in Cleveland, OH and Boston, MA, is pleased to announce that on June 30, 2023, the firm closed its oversubscribed fourth fund, MPE Partners IV, L.P. (and its parallel funds, “Fund IV”), at the hard cap of $633 million, inclusive of the general partner capital commitment. The firm officially launched fundraising on February 28, 2023, and did not use a placement agent. MPE expects to invest Fund IV in entrepreneur- and family-owned companies in the business-to-business manufacturing and services sectors, similar to MPE’s prior funds.

Matt Yohe, Partner at MPE, commented, “Thank you to our outstanding base of returning limited partners. Fund IV reflects strong retention and growth with our existing relationships along with the addition of a select number of new investors.” Joe Machado, Partner at MPE, noted, “On behalf of Karen Tuleta and Peter Taft, we are thrilled to announce the closing of Fund IV. When we launched MPE Partners in 2012, our goal was to develop a leading franchise dedicated to lower middle market investing with an emphasis on family- and entrepreneur-owned companies. We’re excited to continue to advance our strategy of being a differentiated and value-added partner to these companies in Fund IV.”

“In preparation for Fund IV, we have continued to strengthen the MPE team and our Executive Council”, said Graham Schena, Partner at MPE. Constantine Elefter, Partner at MPE, added, “In particular, we created our Analyst program, completed key promotions including Christine Smoragiewicz to Partner and Nick Stender to Principal, and recruited multiple talented executives to serve on portfolio company boards.”

The firm’s partners include Peter Taft, Karen Tuleta, Joe Machado, Matt Yohe, Graham Schena, Constantine Elefter, and Christine Smoragiewicz. They are joined by an experienced team of investment and operating professionals and a network of over twenty Executive Council members, who provide operational, organizational, and strategic advice to MPE’s portfolio companies. MPE also partners with C-suite executives seeking to embark upon their next career opportunity through the firm’s On Deck Circle program.

Jones Day served as fund counsel to MPE.

About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.